WEBINAR: •Promoting Economic Advancement – …



WEBINAR: ?Promoting Economic Advancement – Implementing Financial Education OpportunitiesMarch 27, 2013Slide 1: Title SlidePromoting Economic Advancement – Implementing Financial Education Opportunities March 27, 20133:00PM ESTSlide 2: Today’s SpeakersElizabeth JenningsAssistant Project DirectorLEAD Center Bobbie GraySupervisory Community Affairs Specialist?Federal Deposit Insurance Corporation (FDIC)Division of Depositor and Consumer Protection?James YagleySenior Community Affairs Specialist?Federal Deposit Insurance Corporation (FDIC)Slide 3: Today’s Speakers, continuedArcelio Aponte Disability Resource CoordinatorDirector of Operations and ManagementDepartment of Economic and?Housing DevelopmentNewark, NJJonathan WheatManaging Director, Special ProjectsChicagoland Chamber of Commerce - DisabilityworksChicago, ILSlide 4 The National Center on Leadership for the Employment and Economic Advancement of People with Disabilities (LEAD) is a collaborative of disability, workforce and economic empowerment organizations led by National Disability Institute with funding from the U.S. Department of Labor’s Office of Disability Employment Policy, Grant No. #OD-23863-12-75-4-11. Slide 5: WelcomeChristopher Button, Ph.D.Supervisory Policy Advisor, Workforce System PolicyUS Department of LaborOffice of Disability Employment Policy Slide 6: Listening to the WebinarThe audio for today’s webinar is being broadcast through your computer. Please make sure your speakers are turned on or your headphones are plugged in.You can control the audio broadcast via the audio broadcast panelIf you accidentally close the panel, you can re-open it from the top menu item: Communicate > Join Audio Broadcast Slide 7: Listening to the Webinar, continuedIf you do not have sound capabilities on your computer or prefer to listen by phone, dial:1-415-655-00011-855-749-4750 (Toll-Free Number) Meeting Code: 666 085 568You do not need to enter an attendee ID.Slide 8: CaptioningReal-time captioning is provided during this webinar for those who are deaf, hard-of-hearing or for whom English is a second-language. The captions can be found in Media Viewer panel, which appears in the lower-right corner of the webinar platform.If you want to make the Media Viewer panel larger, you can minimize other panels like Chat, Q&A, and/or Participants.Slide 9: Submitting QuestionsFor Q&A: Please use the chat box or Q&A box to send any questions you have during the webinar to Nakia Matthews or Brittany Taylor and we will direct the questions accordingly during the Q&A portion.If you are listening by phone and not logged in to the webinar, you may also ask questions by emailing questions to btaylor@ndi-.Please note: This webinar is being recorded and the materials will be placed on the National Disability Institute website at . Slide 10: Technical AssistanceIf you experience any technical difficulties during the webinar, please use the chat box to send a message to the host Nakia Matthews, or you may also email nmatthews@ndi-. Slide 11: LEAD Center MissionTo advance sustainable individual and systems level change that results in improved, competitive integrated employment and economic self-sufficiency outcomes for individuals across the spectrum of disability. Slide 12: AgendaReview of Webinar OutcomesAgendaReview of Learning ObjectivesFraming the Issue – Findings on economic insecurityFindings on financial behaviorsFindings on the benefits of financial educationOverview of Money Smart CurriculumsEight Steps to Implementing Money Smart in American Job CentersReplicable American Job Center modelsQuestion and AnswerSlide 13: Webinar OutcomesAttendees have a context of the need for and benefits of financial education.Attendees are able to connect to free financial education curriculums and resources.Attendees are better equipped to implement financial education opportunities for American Job Center customers.Attendees understand the practical application from the perspective of a peer. Slide 14: Framing the Issue – Economic InsecurityNearly half of all Americans lack economic security.These individuals live above the federal poverty threshold but still do not have enough money to cover housing, food, healthcare and other basic expenses.(Wider Opportunities for Women, 2011)The poorest 15 percent of households, which disproportionately include individuals with disabilities, have zero or negative net worth with few or no net assets.(Parish, et.al, 2010)Slide 15: Framing the Issue – Money Management Behavior 42% of Americans give themselves a grade of C, D or F on personal finance 80% of adults say they could benefit from the advice of a professional on everyday financial decisions27% of adults seeking debt management advice go to friends and family first. 13% say they would contact their lender first.2012 Consumer Financial Literacy Survey from the National Foundation for Credit Counseling and the Network Branded Prepaid Card AssociationSlide 16: Framing the Issue – Money Management Behavior56% of adults do not have a budget33% of adults are not paying their bills on time39% of adults carry credit card debt from month to month 39% of adults have zero (non-retirement) savings2012 Consumer Financial Literacy Survey from the National Foundation for Credit Counseling and the Network Branded Prepaid Card AssociationSlide 17: Framing the Issue - Financial Education and EmploymentIndividuals with financial stress report lower levels of career satisfactionFinancial stress decreases productivity and lends to increased absenteeismHigh financial stress is linked to embezzlement and theftSlide 18: Framing the Issue – Benefits of Financial EducationA basic understanding of personal finances can help an individual avoid common mistakes such as overusing credit and mismanaging debt.A basic understanding of personal finances can help an individual to decrease costs by tracking spending, budgeting and paying bills on time.Financial education is critical to planning for short and long term savings.Slide 19: Free Financial Education ResourcesFDIC Money Smart Curriculum - National Endowment for Financial Education – Financial Industry Regulatory Authority (FINRA) - US Financial Literacy and Education Commission - The Beehive - 20: Focus on Money SmartFDIC Money Smart a free financial education curriculum designed to help low- and moderate-income individuals enhance their financial skills. Offers three curriculumsMoney Smart for AdultsMoney Smart for Young AdultsMoney Smart for Small Businesses 21: What is the FDIC?The FDIC (Federal Deposit Insurance Corporation) insures deposits in FDIC Insured financial institutions;Promotes the safety and soundness of insured financial institutions;Regulates financial institutions for compliance with consumer protection laws and regulations; andFacilitates community development efforts.Slide 22: The Money Smart ProgramPicture of Money Smart logoSlide 23: Why Did FDIC Develop Money Smart?To encourage the millions of American families outside the financial mainstream to join the financial mainstream;To encourage financial institutions to identify untapped markets; andTo help fight predatory lending; and To assist consumers in building their financial knowledge and shaping their financial future.Slide 24: Financial Education: The First StepGraphic of building blocks that show Financial education as a building block to:Trust between consumer and financial institution;Establishing Relationship with a Bank / Credit Union;Opening a Savings and/or Checking Account;Developing a budget and saving money;Buying a home and/or starting a small business;Creation of long-term assets; andBuilding wealthSlide 25: Money SmartMoney Smart is FDIC’s FREE financial education curriculumOver 927,000 copies have been distributedOver 2.7 million consumers have been trainedOver 1,800 organizations are members of the Money Smart AllianceMoney Smart has received recognitionSlide 26: What Is Included In Money Smart?Each Money Smart program has a set of instructor-led training modules covering basic financial topics; Each training module includes a comprehensive guide for instructors and a take-home booklet containing highlights and resource material for class participants; andThe instructor guides have everything necessary to begin teaching the program right away with easy to follow cues and script, overheads, and interactive class exercises.Slide 27: Money Smart for Adults Training ModulesBank On ItBorrowing BasicsCheck It OutMoney MattersPay Yourself FirstKeep It SafeTo Your CreditCharge it RightLoan To OwnYour Own homeFinancial RecoverySlide 28: Money Smart for Young Adults Training ModulesBank On ItCheck It OutSetting Financial GoalsPay Yourself FirstBorrowing BasicsCharge It RightPaying for College and CarsA Roof Over your HeadSlide 29: Money Smart for Small Business Training ModulesOrganization TypesTime ManagementFinancial ManagementRecord KeepingBanking Services Available for Small BusinessesCredit ReportingRisk ManagementInsuranceTax Planning and ReportingSelling a Small Business and Succession PlanningSlide 30: Different FormatsPictures of the logos of each of the following:Instructor-Led Curriculum for AdultsMoney Smart for Young AdultsMoney Smart for the Visually ImpairedSelf-Paced Computer Based InstructionMoney SmartSlide 31: Adult Instructor-Led CurriculumEach module is structured identicallyComprehensive guide for instructorsTake-home booklet for participantsOverheadsDuration of each module: 1-2 hoursAvailable in: English, Spanish, Chinese, Korean, Hmong, Russian, & Vietnamese*Version for the visually impaired availableKept UpdatedSlide 32: Money Smart Young Adult Instructor-Led CurriculumBased on the award-winning Money Smart curriculum, but targeted towards teens and young adultsMoney Smart for Young AdultsTarget audience: those ages 12-20Grades 7-12First and second years of collegeSlide 33: Money Smart for young Adults - Computer-Based Instruction (CBI) - Self Paced CurriculumScreen shot of Money Smart for Young Adults Computer-Based Instruction (CBI) programSlide 34: Money Smart - Computer-Based Instruction (CBI) - Self Paced CurriculumScreen shot of Money Smart Computer-Based Instruction (CBI) programSlide 35: Money Smart – Setting Financial Goals Screen shot of Money Smart Computer-Based Instruction (CBI) program – Setting Financial Goals informationSlide 36: Money Smart – Setting Financial Goals Screen shot of Money Smart Computer-Based Instruction (CBI) program – Setting Financial Goals gameSlide 37: MP3 VersionMoney Smart Podcast NetworkSuitable for use with virtually all MP3 players Verbal descriptions and topic based scenariosGrouped into four categories. GeneralChecking & SavingsBudgeting & SavingsCreditPicture of Money Smart logoSlide 38: Money Smart Train-the-Trainer for InstructorsVideo (DVD)30 minute overview on teaching Money SmartEnglish and SpanishViewable online or order in DVD formatWebinarsWorkshopsSlide 39: Different Delivery MechanismsIndividual Methods One-on-one counseling Telephone advising Group Methods Seminars/presentations Training workshops Workshop series Credit courses offered through formal educational institutions Small discussion groupsGames and simulationsMass Methods Web-based programs Interactive CD programs TV programs Newsletters/papers Radio programs Slide 40: FDIC’s RoleDistribute the curriculum to potential instructorsProvide technical assistance, possibly including linking sites interested in delivering financial education with potential instructorsTeach Train-the-Trainer classesResearch & publishing best practicesSlide 41: Why Choose Money Smart?Money Smart for Adults and Money Smart for Young adults are available online, as self-paced tutorials (in Spanish and English).Money Smart for Adults is available in nine languages and Braille.All three curriculums are available at no charge on CD-ROM.None of the curriculums are copyrighted. You can supplement lessons as needed for target populations.Free instructor training is available from FDIC.Slide 42: Money Smart is a Win-WinA 2001 TEGL on partnering with FDIC to provide Money Smart noted such efforts as a win-win for American Job Centers because:By choosing to offer the MS curriculum (as part of a statewide effort or simply as an option in their particular communities) local One-Stops can develop lasting partnerships with a broad array of financial institutions and become the central community location for all citizens to visit to become fully financially literate or to brush up on specific topics.Slide 43: Sample Financial Education Success StoriesWhat Works in the Workplace: Helping Employers Provide Financial Education to Their Staff Attention! Success Stories Offering Financial Education to Soldiers and Their Families Big Results for Small Businesses: More Success Stories from Financial Education Promoting Financial Education at Free Tax-Preparation Sites: Success Stories From Poverty to Prosperity: Money Smart Success Stories and Tips for Providing Financial Education to Struggling Families Helping Low-Income Teens Save for Financial IndependenceSlide 44: Implementing Money SmartThe following eight steps offer a practical outline for implementing Money Smart within American Job Centers.Step One: Explore Money Smart Step Two: Identify PartnersStep Three: Determine Program DesignStep Four: Train the TrainersStep Five: Tackle LogisticsStep Six: Market Money Smart ClassesStep Seven: Measure outcomesStep Eight: Utilize FeedbackSlide 45: Step One: Explore Money Smart Explore the FDIC Money Smart website at Money Smart offer the level of financial education you are seeking?Is Money Smart available in the formats you are seeking?Does Money Smart provide the level of support you are seeking?Slide 46: Step Two: Identify PartnersConsider two types of partners:Internal PartnersExternal PartnersSlide 47: Step Two: Identify PartnersInternal PartnersIndividuals within the Workforce Center who have a vested mission in financial literacy or offering varied training opportunities TANF programs – count Money Smart education toward work activity requirementsYouth programs – Money Smart curriculum meets WIA Youth Program mandate to “improve educational and skill competencies”Slide 48: Step Two: Identify PartnersNote on Internal PartnersDo not be disappointed if internal staff are not familiar with financial education or question its merit in relation to their mission.Use “no” as a teachable moment to share what you know about the benefits of financial educationSlide 49: Step Two: Identify PartnersExternal PartnersOrganizations currently providing financial education services.Partnership could include:Organization offers their financial education program at the Workforce CenterOrganization accepts referrals from the Workforce Center Slide 50: Step Three: Determine Program DesignThere are three ways to implement Money SmartPartner with another organizationAs mentioned in Step TwoProvide access to self-guided Money SmartUpload Money Smart to designated computersTrained staff offer Money Smart workshopsContinue through the steps for more informationSlide 51: Step Four: Train the TrainersFDIC offers several free Train the Trainer optionsTraining GuideVideo trainingWebinar trainingIn-person workshop 52: Step Four: Train the TrainersTraining GuideEmbedded in the Instructor-led CD for each curriculumTeaches the trainer how to use the curriculum effectivelyProvides training strategiesOffers guidance on serving individuals with disabilitiesSlide 53: Step Four: Train the TrainersVideo trainingOnline videos for Money Smart for adults and money Smart for Young AdultsDesigned to assist user in understanding the correlating Train the trainer guideOffer training tips and effective training strategies.Slide 54: Step Four: Train the TrainersWebinar training Guidance on training delivery, coaching, assessing, and giving/receiving feedbackTraining includes presentations, demonstrations, and exercisesRegularly scheduled trainings, held monthly 3-hour online trainingSlide 55: Step Four: Train the TrainersIn-person train the trainer workshop FDIC provides marketing materials, curriculum and other workshop materials, and trainerYou provide trainees, space, audio visual equipment, support to trainer (passing out information, assisting with sign-in sheets, etc.), and lunchOptimal choice to build a team of trainers working toward implementing Money Smart in the Workforce CenterSlide 56: Step Five: Tackle the LogisticsClass schedule (date, time)Consider factors such as transportation, childcare and employmentClass locationDecide how many locations will offer the class and with what frequencyTarget class sizeSuggested size is 10-15 peopleSlide 57: Step Five: Tackle the LogisticsRegistrationDetermine whether or not registration is requiredAssign an individual to manage registration or employ a free online system such as Eventbrite ()Special populationsPlan for special needs such as requests for accommodationsReview the Money Smart supplement for resources to support learners with special needsSlide 58: Step Six: Market Money Smart ClassesTell customers about this service again and again and againWhen producing materials, choose language that speaks to your customers Can’t pay all your bills? – Attend Money Smart to learn budgeting and money management techniques; vs.Can’t pay all your bills? – Attend Money Smart to learn which ones to pay firstSlide 59: Step Six: Market Money Smart ClassesReach out to partner organizations to help spread the wordYouth program partners Area Human Service organizationsFaith-based organizationsVocational RehabilitationOrganizations providing other anti-poverty efforts (tax coalitions, IDA providers, etc.)Slide 60: Step Seven: Measure OutcomesAsk participants to complete pre and post assessments of their financial literacy and financial stress.Request feedback on the class logistics, materials and marketing of the programSeek suggestions for improving the classesSlide 61: Step Eight: Utilize FeedbackReview feedback from participants with an open mindShare feedback (both positive and critical) with partnersUse feedback to make adjustments as necessary and to continually seek to improve your effortsSlide 62: Peer ExperienceArcelio AponteDirector of Operations and Management,City of Newark, Department of Economic and?Housing Development, andBoard MemberNewark Workforce Investment Boardapontea@ci.newark.nj.usSlide 63: Peer ExperienceJonathan WheatManaging Director, Special Projects,Chicagoland Chamber of Commerce – Disabilityworks, andManaging Director Statewide Resource Coordinators, Disability Employment Initiativejwheat@Slide 64: Tools from Chicagoland Chamber of Commerce - DisabilityworksAsset Development QuestionnaireAsset Development Staff GuideClient Referral for Asset DevelopmentSlide 65: Questions?Slide 66: LEAD Center FREE Webinar SeriesThe LEAD Center will provide a new webinar on the last Wednesday of the month from 3:00p.m. EST - 4:30p.m. EST.Webinars will include three mini-series on:LeadershipEmploymentEconomic AdvancementThe first mini-series will focus on economic advancement strategies for workers with disabilities.Slide 67: Upcoming Webinars: Economic Advancement Series, ContinuedApril 24, 2013 from 3:00pm to 4:30pm ESTUsing Work Incentives to Build Financial Stability Webinar will offer individuals an overview of the two Social Security disability benefit programs, opportunities to increase income through the use of SSDI work incentives, opportunities to increase income through the use of SSI work incentives, and work incentives that support savings above the $2000 SSI asset limit.Target Audience: Individuals with disabilities and related stakeholdersSlide 68: Thank YouElizabeth JenningsLEAD Center, Assistant Project Directorejennings@ ................
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